Home Business GCX, ARB Apex Financial institution maintain workshop on warehouse receipts funding

GCX, ARB Apex Financial institution maintain workshop on warehouse receipts funding

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The Ghana Commodity Exchange (GCX), in collaboration with ARB Apex Lender, the Apex physique for all neighborhood and rural banking companies in Ghana, structured schooling seminars for over a hundred representatives of chosen financial institutions across the country. 

These classes have been structured to permit these associates to fully grasp structured trading and Warehouse Receipt Funding.

The teaching which was performed in two phases saw Administrators, Main Government Officers and Line professionals of these selected banks collect in Kumasi for the instruction classes in the southern zone even though those people executed for the northern zone was held in Bolgatanga.

The coaching sought to introduce contributors to structured investing and warehouse receipt financing as effectively as the hazards concerned in structured buying and selling. 

While offering his deal with, the Main Government officer of the Ghana Commodity Exchange, Dr Kadri Alfah stated that the Warehouse Receipt Technique and for that subject Warehouse Receipt Financing would be a video game-changer in offering entry to financing and deepening economical inclusion, concentrating particularly on our farmers. 

He bemoaned the fact that although Agriculture contributes some 20% to Ghana’s GDP and also employs 60% of our workforce, much less than 3% of lender funding goes to agriculture. “This is an regrettable problem. Funding agriculture working with warehouse receipts provides a greater chance and comfort and ease for financial institutions to lend to this crucial sector of our economy” Dr Kadri discussed.

With the Warehouse Receipt funding Plan, farmers do not have to present any landed property or Equipment to aid their personal loan system, all they need to have rather is a warehouse receipt representing a selected high quality and quantity of commodity stored in a GCX licensed warehouse. 

He further stated that all commodities in the GCX warehouses were insured against fire, theft, theft as very well as purely natural disasters. Again, the Trade has set up a General performance Ensure fund to control all non-insurable hazards. ‘’A Warehouse Receipt Program without having a functionality ensure fund is not a complete program and can’t be trusted’’, Dr Kadri, stated.

The ARB Apex Bank and GCX signed a warehouse receipt financing arrangement in March 2019 to guidance Ghanaian farmers with funding to boost their output and livelihoods. 

The Head of Credit and Investigation of Apex Bank, Gordon Dery, stated in his remarks that the Administration of Apex was in complete aid of the Warehouse receipt technique as it offers a good possibility to increase lending to the farmers who variety a the vast majority of their clientele foundation. 

According to him, ARB Apex has produced a personal loan products for the Warehouse Receipt Funding and was ready to roll out. ‘’We are prepared, and we have the resources available. We only want the rural banking institutions to apply’’, Mr Dery reiterated. 

The GCX took the possibility to get the participants on a tour of the GCX warehouses at Ejura, Wenchi, Tamale and Sandema. The participants were being highly elated at the level of professionalism exhibited at the warehouses. 
 





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